Woolworths confirms more local sourcing
Woolworths is looking to source more goods from SA and SADC and, despite ‘tough’ retail scene, expects to grow market share
Woolworths has turned its focus to sourcing goods from SA and the Southern African Development Community (SADC), a move that CEO Ian Moir says has been good for business. In the 26 weeks ended December 25, its clothing and general merchandise sales grew by 3.5% with inflation of 7.3%. Comparable sales in this segment grew by 1.2%. Moir said clothing inflation costs were lower than any of the company’s competitors. "We are on-shoring a lot of our activity from SA and SADC. In SA, by the end of the year, we would have increased our buy by nearly 10%. Our total intake from SADC is now 54% of all of our purchases and it’s made a real difference."
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.